Volaris Group Expands its Portfolio with the Acquisition of Symbrio AB
TORONTO, Aug. 19, 2020 (GLOBE NEWSWIRE) — Volaris Group (“Volaris”) today announced that it has completed the acquisition of Symbrio AB (“Symbrio”). Symbrio is a provider of procure-to-pay software solutions for the installation industry.
Founded in 2000 in Stockholm, Sweden, Symbrio has accumulated a customer base of the largest installation businesses in Sweden, and in recent years has expanded out into other Scandanvian markets. As a result, Symbrio has developed the largest supplier network in the region.“We are convinced Volaris is the best home for Symbrio as they are able to provide access to capital, business guidance, and best practices to accelerate our business. Symbrio continues to operate autonomously and entertain future M&A of our own,” said Johan Ouchterlony, CEO of Symbrio. “A key element to our decision is the Volaris unique acquisition principle of ‘buy and hold forever’ as well as their commitment to allowing us to maintain our corporate identity and accelerate the brand we have worked so hard to build over 2 decades in the market.”Today, Symbrio’s customer base includes global tier 1 installation businesses including Bravida, Caverion, Assemblin, Eltel Networks, and Midroc Electro.“We are excited to bring a market-leading installation software business into our portfolio, in order to complement our existing companies and provide further mission-critical software capabilities to our ecosystem,” said David Nyland, Portfolio Leader at Volaris. “We are particularly impressed with how Symbrio has transformed itself into a cloud-native Software as a Service (SaaS) solution to allow rapid onboarding of customers into a ready-made and connected supplier ecosystem.”About Volaris Group
Volaris acquires, strengthens and grows vertical market technology companies. As an Operating Group of Constellation Software Inc., Volaris is all about strengthening businesses within the markets they compete and enabling them to grow – whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions. Learn more at www.volarisgroup.com and http://www.volarisgroup.com/comms. Contact Information:
Tel: +1 647.738.5977